Benefits of OPD Expense Coverage

OPD or out-patient-department is a facility provided by all government and private hospitals in the country for several years now. This service allows people to get separately treated by a doctor from a hospital without being admitted to it. It is generally availed by patients who require special care from specialized medical practitioners at frequent intervals.

However, one must not confuse OPD with daycare treatments. Daycare treatments involve mandatory hospitalization of 24 hours and involve minor surgical or procedural treatments such as cataract surgery, dialysis, or chemotherapy, while OPD refers to the treatment meted out to any patient by a doctor on simply visiting their clinic or consultation room. It is important to understand the difference between the two because many people tend to confuse the two terms because of their lower treatment time. This being said, it may be mentioned that many insurance providers offer an OPD Expense Coverage as part of their general health insurance policy. Some significant insurance companies that offer this feature include Apollo Munich, ICICI Lombard, Bajaj Allianz, and Cigna TTK. In this article, we are going to look at some of the benefits of OPD Expense Coverage, as listed below -

Benefits of OPD Expense Coverage

The following are some of the benefits of OPD Expense Coverage -

1. Extra Claim Amount

One of the foremost benefits of OPD Expense Coverage is the additional coverage it involves other than hospitalization charges. For any person with an underlying medical condition or a critical illness, frequent consultation and diagnosis of new complications at the earliest is a necessity. In such cases, it often leaves a considerable hole in the pocket of the patient or their family members, for constantly having to pay the doctor’s fees and high expenses of medical tests and procedures. In such cases, having an OPD coverage allows them to receive those expenses as an additional sum along with the claim amount. It augments the amount of their claim and also ensures a regular flow of sum for continued medical treatment.

2. Tax Benefits

Most people might not be aware of it but they can avail themselves attractive tax benefits under an OPD cover in health insurance. In comparison to health insurance policies that do not come with features, plans with OPD expense coverage can claim regular tax exemption for the premium paid towards availing this facility. It thus ensures a yearly source of savings and extra income apart from offering health and medical benefits to the policyholder.

3. Multiple Reimbursements

OPD Expense Coverages come with a multiple reimbursement feature that allows a policyholder to claim financial assistance several times in a policy year. This is in accordance with the greater number of services and transactions under OPD treatment. It is a value for money benefit, where all your expenses spent for regular medical tests, screenings, and other procedures are met comfortably by your insurance provider. It is for this reason that the monetary worth of a health insurance policy with OPD benefit is higher than a regular health insurance policy.

4. Bill Coverage

OPD Coverage also ensures that the pharmacy bills paid by you are covered under its umbrella. Prices of specialized drugs, medicines, vaccines, and other medical equipment are sky high and this feature ensures that the policyholder can continue their treatment without the hassle of arranging for extra funds. It seeks to assist those individuals who incur more expenses, especially old people who need to be constantly under their doctor’s scanner.

5. Greater Sum Assured

Unlike all health insurance policies, a health insurance policy with OPD coverage calculates their sum assured amount in accordance with the age of the policyholder. For this reason, the amount of sum assured in health insurance policies with this feature is greater than most regular health insurance policies. Its higher amount offers robust financial support to policyholders who can rely on their health insurance policy for timely redressal of their financial concerns.

The above points sum up the general benefits promised to all individuals for a health insurance policy with an OPD Expense coverage. Given the fact that accidents can happen unannounced in anyone’s life and the cost of medical expenses keeps climbing up, it is wise to get a health insurance policy that comes with OPD coverage for all-around, comprehensive coverage. It will aid you in having a steady flow of funds that you can use to cover for your regular check-up and visits to the doctor.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.